When we think of computer technology and IT support, what countries do we think of? Probably the US, China, Korea, and a handful of others? But what about West Africa? Could West African tech get it’s big break?
In Nigeria, there is a tech firm they call Interswitch. It helps with Nigeria’s banking system; it also offers payment infrastructure. In fact, they got so big they were about to go on the London Stock Excahnge. Interswitch would be the first African tech firm to do so. But there are obstacles. A Nigerian recession, a sliding currency, and acts of terrorist violence are holding Interswitch back.
While their stock exchange debut is delayed, Interswitch is still optimistic. One executive assured their company will be on the stock market before December 2019. Even Nigerian politicians are hopeful. For instance, one Minister of Communication says the time is right for them to go public. Though this West African tech company poises to be the first to go public, they’re not the only ones. A Kenyan grocery store company and a rival Nigerian tech firm Flutterware are also contenders. But even rivals say Interswitch is the best African tech company to be the first to go public.
But what does this have to do with me? Well, it levels the global playing field as far as tech. In fact, I think this this is the first blog I have done on West African tech. I hope to do more. Sometimes, I think this continent gets a bad break. You ask the average person what they think about Africa. Images of extreme poverty, war, and mayhem probably come to mind. It’s time to change that. I’m glad West African tech companies like Interswitch are leading the charge to that change. How do you think this will impact the international tech world?